Having stroke on your health history won’t stop you from getting the perfect life insurance for you. However, you need to keep in mind that the details of the stroke history will make a huge impact on the life coverage you will be eligible for, how much the coverage will cost, and the right insurer for you.
The life insurance agent you chose will ask you different questions on the stroke issues and any ongoing treatment you need. Ensure that you provide the agent with the right details of your stroke history. The agent will then consider your details and match you up with the perfect insurer that will give you the right rate that matches your budget.
Does Stroke Affect Life Insurance Rates?
Just so you know, every life insurance provider sees people with medical conditions as high-risk, including stroke survivors. The rate hike will depend on factors such as the severity of the stroke, the number of strokes you’ve had, and your recovery progress.
When determining your rates, insurance providers will consider:
- The timing of your first stroke
- Cause of stroke
- Your age
- lifestyle choices
- Post-stroke medical records
- lab results
- Treatment and recovery progress
- Any additional or ongoing medical conditions
Although higher rates should be expected, life insurance after a stroke doesn’t have to be prohibitively expensive.
How Can I Get Insurance After a Stroke?
In order to secure life insurance after a stroke, there are certain steps you need to take. They include;
• Gather medical documentation
First of all, you need to gather all your medical records related to the stroke. This includes details about the stroke, medications, past and ongoing treatments, and your recovery progress. This information will help the insurers understand your health status.
• Consult insurance professionals
Meet with insurance agents or brokers, especially those that do take high-risk cases or specialize in health issues. They will help to provide you with good advice on available policies and help navigate the application process.
• Compare policies and providers
Search around for different insurance companies and their policies. Look for options that can help in accommodating pre-existing conditions. Some of the types of life insurance for stroke victims include term life insurance, whole life insurance, simplified issue life insurance, and group life insurance. Compare the insurers’ available terms, coverage, and premiums in order to find the best policy for your situation.
• Prepare for health assessments
You should be very ready and prepared for health assessments or questionnaires. You may have to provide a detailed history about your stroke, current health, and lifestyle. Some insurers may mandate you to go through a medical exam or have access to your medical records. Being prepared for these assessments can help make the application process faster.
What Should I Do if I Get Denied For the Policy?
If you’re denied life insurance because of your health risks from a stroke, understanding the reasons is very crucial for your next steps. First, you should try applying to another insurance company, as their criteria may vary. Consider policies with very small health requirements. For example, simplified issue or guaranteed issue life insurance.
You need to improve your health through lifestyle changes. Regular medical care can also help. Ensure that your health records are up to date and work with your doctor to track your progress.
If you continue to face rejections, it is advisable that you consult insurance professionals who are based on high-risk cases. They can help you locate alternative solutions or suggest non-traditional insurance products that may match your needs and budget.
Frequently Asked Questions
Will I be denied coverage because of my stroke?
Not really. Although some insurance companies may deny you coverage, others may provide coverage with high premiums or specific conditions.
How soon after stroke can I apply for life insurance?
You are allowed to get coverage as soon as you are fit enough to meet the health requirements of the insurer. It is also advisable to consult your doctor first.
Will my premiums be higher after a stroke?
Premiums may be higher than they should be, depending on the insurer’s risk assessment and your health status.
Can I get coverage through my employer?
Yes, if your employer provides group life insurance, you may be qualified. And this is because plans offered by employers do have less difficult health requirements.
